Air New Zealand: Board Statement to Stock Exchange

The Board is conscious of public speculation surrounding the discussion and possible outcomes of Air New Zealand in its meeting yesterday.

Commenting after the meeting, Air New Zealand Chairman John Palmer said:

“The Board met to consider the current status and direction of its strategies being developed to reflect the aviation industry environment and public expectations of air travel. This is a major strategic issue which will impact the Company for the next few years. The analysis involved is extensive and is ongoing.

“The Board is satisfied with the pace and direction of the strategies being developed. Premature signalling of our intentions could prejudice the prospects of success by allowing competitors to initiate counter-strategies.

“The company also has an obligation to discuss potential changes and implications with staff and that process is at an early stage.

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“Further details will be released as the Company moves to implement significant elements of the new strategies,” Mr Palmer said.